Sun, Mar 13, 2011 page11

• Business Quick Take

  • Agencies
  • • 
    • 
    • 

  COMPUTERS

  Lenovo mulls acquisitions

  Lenovo Group Ltd (聯想) is considering acquisitions in the US and Europe, chairman Liu Chuanzhi (柳傳志) said at a briefing in Beijing. The company is exploring Taiwanese investments, including cooperation involving new Lenovo products, Liu said. Lenovo may increase its cooperation with Japan’s NEC Corp, Liu said. Lenovo currently holds a 51 percent stake in a venture with the Japanese electronics maker, Liu said. The company’s profit this year will remain “quite high” and it will use “better knowledge” of the Chinese market to win customers for its LePad tablet computer and take market share from competitors such as Apple Inc, Liu said.

  INTERNET

  Google rewards executives

  Google has awarded nearly US$9 million in bonuses and another US$50 million in equity to four top executives of the Internet giant, according to a filing with the US Securities and Exchange Commission (SEC). Patrick Pichette, Google’s chief financial officer, received a US$2.7 million bonus and US$15 million in equity, while chief business officer Nikesh Arora received a US$2.7 million bonus and US$20 million in equity. Google’s senior vice president for engineering and research Alan Eustace was awarded a US$1.8 million bonus and another US$10 million in equity, according to the SEC filing. Senior vice president for product management Jonathan Rosenberg received a US$1.7 million bonus and US$5 million in equity.

  JEWELRY

  Bulgari returns to profit

  Italian jeweler Bulgari, which is being absorbed by LVMH, the world’s top luxury retailer, said on Friday that it had bounced back into the black last year with a profit of 38 million euros (US$53 million). Revenue climbed by 15.4 percent at current exchange rates to 1.07 billion euros, while net financial debt plunged 38 percent to 135.3 million euros, the company said in a statement. LVMH announced on Monday it will take control of Bulgari for 4.3 billion euros in a deal to challenge Cartier and Tiffany in the jewelry business.

  ENERGY

  Chevron launches appeal

  US oil giant Chevron announced on Friday that it had lodged an appeal of an order by an Ecuadoran court requiring it to pay US$9.5 billion for environmental damage in the Amazon. Chevron said in a statement the appeal of last month’s decision “details the pattern of fraud by the plaintiffs’ lawyers, supporters and others that has corrupted the trial, as well as the numerous legal and factual defects in the judgment.” The firm said it would also pursue efforts at an international tribunal and in the US courts to prevent enforcement of the ruling.

  TELECOMS

  Digicel operations eyed

  Mexican telecom company American Movil plans to acquire a cell phone company’s operations in Honduras and El Salvador. Latin America’s largest phone service provider says it has reached a deal to buy 100 percent of Jamaica-based Digicel’s operations in the two Central American countries. As part of the deal, America Movil will sell Digicel its operations in Jamaica. America Movil’s statement on Friday does not give a value for the deal, which must be approved by regulatory authorities in Honduras, El Salvador and Jamaica. America Movil is owned by Mexican billionaire Carlos Slim, the world’s richest man according to Forbes magazine. The company has 225 million subscribers.
• Most Popular

  • 1

    CWA issues warnings about Tropical Storm Danas

  • 2

    Indigenous Kuskus Village exhibition opens in Taipei

  • 3

    Army establishes HIMARS company

  • 4

    Hsieh keeps Wimbledon title hopes alive

  • 5

    MAC slams Beijing’s flight path change